Tax Plan

Since I was first elected to public office, my mission has always been to put New York taxpayers first. For America to remain competitive and free, we need a straightforward tax code that rewards work, encourages entrepreneurship, and creates an environment where families and businesses can thrive.

I am the only New York Republican who voted for both of President Trump’s landmark tax bills: the Tax Cuts and Jobs Act (TCJA) in 2017 and the One Big Beautiful Bill Act (OBBBA). Both laws delivered historic relief by lowering rates for individuals and businesses, doubling the Standard Deduction and the Child Tax Credit, and driving private investment and job growth across the country.

As a member of the House Ways and Means Committee, the chief Congressional tax-writing committee, I played a pivotal role in crafting the One Big Beautiful Bill’s comprehensive tax relief. On July 4, 2025, President Trump signed the One Big Beautiful Bill Act into law. This is a transformative, pro-growth tax package that locks in and expands the successes of TCJA.

OBBBA makes permanent the 20% small business deduction, raises the standard deduction, and restores full expensing for equipment purchases. It protects family farms from the estate tax, strengthens the Child Tax Credit, and reduces red tape by raising 1099 thresholds, helping independent contractors, truckers, and gig workers focus on their businesses instead of battling the IRS.

The One Big Beautiful Bill Act also makes the New Markets Tax Credit (NMTC) a permanent fixture of the tax code, which has been a long-standing priority of mine. Doing so provides long-term certainty for private investors and community development organizations. The credit offers a 39% federal tax credit for investments made in low-income, economically distressed areas, encouraging job creation, business development, and infrastructure growth. The bill also indexes the credit for inflation and exempts NMTC investments from the Alternative Minimum Tax (AMT), expanding access to capital and boosting revitalization in rural and urban communities across the country.

At a time when families are still dealing with inflation and economic uncertainty, our focus should be on giving taxpayers more flexibility, more opportunity, and more control over their hard-earned money. Unfortunately, Democrats have not only consistently voted against tax relief for Americans but have voted for trillions in new taxes on families and businesses, massive IRS expansion, and higher death taxes that would devastate family-owned businesses and farms.

OBBBA was a culmination of the hard work that my colleagues and I have dedicated to making sure that families take home more of their hard-earned money, allow Main Street businesses thrive, and American companies and workers can compete in the global marketplace. However, there is still more that needs to be done to support NY-24. Below is a list of key provisions of OBBBA that benefit our farmers, families, workers, and communities and how we can continue building on these wins.

Sustaining our Farms and Rural Communities:

• Permanently Extend the Death Tax Relief Permanent: The death tax cruelly punishes family farms and small businesses by forcing the next generation to pay millions in cash upon inheriting these nonliquid assets. Family farmers do not have the resources to pay this cruel and punitive tax, especially as many family farms are already struggling to make ends meet. By permanently extending the Death Tax Relief from TCJA, this will prevent over two million family-owned farms from seeing their estate tax exemption hiked.
• Codified the 20% Small Business Deduction (Section 199A): Our small businesses are the backbone of our economy. NY-24 contains over 40,000 small businesses and over 6,500 family farms. This deduction allows small business owners to keep more of their hard-earned income, invest their workforce, and make our communities thrive.
• Allowed 100% Immediate Expensing of New Capital Investments: This OBBBA provision allows farmers and small businesses to immediately deduct the cost of all tools and capital equipment. This provides much-needed relief to allow for greater investment in our communities.
• Leading H.R. 1753, the Community News and Small Business Support Act: This legislation provides targeted tax credits to local news outlets for journalist wages and to small businesses for advertising in local print, radio, or TV, helping preserve community journalism while strengthening the visibility and viability of local employers. Small local news outlets provide our rural communities with quality journalism about our region. This credit would be a lifeline to these news outlets.

Putting American Workers and Families First

• Provided Immediate Tax Relief for All Taxpayers: OBBBA makes permanent the lower Individual Tax Rates and doubled Standard Deduction and Child Tax Credit from 2017, successfully averting a significant tax hike on families. For example, a New York family of four with an income of roughly $70,000 will save $1,700 in taxes because of OBBBA.
• Eliminated Tax on Overtime and Tips: OBBA eliminated Tax on Overtime up to $12,500 and eliminated Tax on Tips up to $25,000. These provisions deliver $1,400 in savings for over 80 million hourly workers and up to $1,300 in tax savings for America’s 4 million tipped workers. These provisions will help keep more money in the pockets of our hardest workers.
• Created a New Senior Deduction: For the first time, Seniors will now get an additional $6,000 deduction. Many seniors live on fixed income from their Social Security benefits and require additional relief amidst the record high inflation under the Biden administration. This provision provided targeted tax relief for middle- and low-income senior citizens.
• Removing Taxes on Interest on American Cars: One of the average Americans’ largest monthly expenses is an auto loan. This provision allows taxpayers to deduct auto loan interest for new American-made cars. This both promotes affordability, provides relief to American families, and incentivizes the purchase of American-made vehicles supporting our domestic manufacturing.
• Repealed the Democrats’ 1099-KRule: In the so-called “Inflation Reduction Act” Democrats forced all third-party payment platforms, like Venmo and PayPal, to disclose the transactions of individuals who have more than $600 in transactions. This massive invasion of privacy puts workers’ data at risk and allows the government to spy on everyday working Americans. I strongly supported repealing this rule and protecting the privacy of Americans’ financial transactions.
• Cosponsored H.R. 1177, the Improve and Enhance the Work Opportunity Tax Credit Act: This bipartisan bill strengthens the Work Opportunity Tax Credit (WOTC), a proven tool that helps employers hire veterans, SNAP recipients, individuals with disabilities, and long-term unemployed Americans. The bill increases the credit amount to better reflect today’s workforce costs, rewards employers who retain workers for longer periods, and removes outdated limits that have prevented older Americans on SNAP from benefiting. For nearly three decades, WOTC has been vital in helping disadvantaged individuals find meaningful employment while reducing dependence on government programs. Updating this credit is long overdue, and this bill gives employers the certainty and support they need to continue investing in the American workforce.

Supporting our Children

• Quadrupled the Employer Childcare Tax Credit: The Employer Childcare Tax Credit encourages small businesses to offer childcare options for workers. By significantly expanding this important credit, small businesses will be even further incentivized to provide childcare for working families.
• Expanded the Child & Dependent Care Tax Credit: This tax credit helps families offset rising childcare costs by enhancing pre-tax savings tools and refundable tax credits. This will help provide relief to families in NY-24 who are struggling to afford childcare and ensure our kids receive the highest quality care possible.
• Incentivized Donations to Private Scholarship Organizations: OBBBA provided the first federal school choice program ever by incentivizing donations to private scholarship organizations that can support families in sending their kids to private schools. For some students, private or parochial schools may provide a more suitable education than traditional public schools. I strongly support efforts to provide parents with more options to choose the best option for their child.
• Introduced H.R. 2798, the High-Quality Charter Schools Act: This bill establishes a federal tax credit for charitable donations made toward the creation of new charter schools, empowering parents with more educational choices and incentivizing private investment in public education alternatives. No child’s ZIP code should determine their educational potential.

Strengthening Recreational Activities in NY-24

• Introduced H.R. 2231, the Motorsports Fairness Act: This provision makes permanent the 7-year depreciation schedule for motorsports entertainment complexes, helping speedways and racing venues plan long-term capital improvements and remain economic drivers in the communities they serve. This provision will support our motor speedways in both Oswego and Watkins Glen.
• Introduced H.R. 1583, the PAR Act: The bill removes golf courses and country clubs from the so-called “sin list”, allowing them to benefit from tax-exempt financing and related incentives. This will help revitalize recreational infrastructure and community-based businesses, especially in tourism-dependent areas. 

I will continue to lead efforts to ensure that our tax code works for everyday Americans, not against them. Through commonsense oversight, pro-family and pro-worker reforms, and a commitment to fiscal responsibility, I will always defend the interests of New York taxpayers and the hardworking families and businesses that make our country great.

Your views are always important to me. Please write to me on my website or call my office at 202-225-3665 with feedback, questions, or concerns.